Success in the Car Manufacturing Industry
Companies active in the car manufacturing industry across the globe have had a substantial increase in numbers throughout the second half of the previous century. An industry once in the clasp of fewer than ten companies worldwide is now witnessing hundreds of new brands in the car manufacturing industry. Nowadays, almost every country has its stake in the car manufacturing industry with its products ranging from montages to domesticated versions of world-famous cars. Some companies in car manufacturing rely on their domestic market for sales and engage in producing low-quality vehicles at best, whereas KIA for example has seen a substantial increase in both product quality and sales worldwide.
What is the reason behind some newly emerged Asian brands taking over so rapidly and other car manufacturing companies, some with great legacy even, end up having to shut down altogether?
Our highly professional financial and economic experts at Maadico would not look at the reason behind the unsuccessful endeavors of car manufacturing companies but offer a number of solutions for those in the car manufacturing industry seeking to also enjoy the success of world-renowned car companies.
Maadico provides professional counsel for your company in the fields of Marketing, Agility, Company strategy, M & A, and others in the car manufacturing industry and also other industries to excel their companies into the big league of success. To find out more, click here!
As mentioned earlier, we will provide you with a number of ways to lead and manage a successful car manufacturing company. Let’s get down to business.
Pay attention to build quality
So many car manufacturing companies rely solely on the number of sales rather than focusing on the quality of their product. They think about short term profit and cheaper prices. Iran Khodro is the largest car manufacturer in the Middle East with more than 850 thousand family salon cars marketed in 2010. It also witnessed a substantial profit this year with having made more than 12 bn. Dollars over the production of fewer than 10 models of cars with a single star European safety test score. Their car manufacturing industry is solely limited to the montage of old and cheap European cars in the Peugeot range. Yet due to a closed economy policy, the people do not have any other choice than having to buy low quality, old and polluting cars.
Why is quality more important in the car manufacturing industry?
With the exemplification above, it would be worth mentioning that in 2016 with the signing of the JCPOA among European countries, the USA, and Iran, a brief period of economic boost allowed Iranians to Import Cars and that year for the first time, Iran Khodro faced a 2bn, dollar damage in sales. Although they once again have emerged in their sales numbers due to the political situation among other reasons, a lesson to be learned is that if you keep the quality down, it’s only a matter of time before you lose your customers.
Montage for a while
If one were peculiarly told to start off with montage in the car manufacturing industry, you would think it to be a lazy economic move. But think again. Montaging allows you to find your place in the market and will grant you enough profit overtime to both analyze your target market and assess its needs to invest enough in your own designing department for a new project which not only represents your company’s capabilities but also makes up for the weaknesses of your rival productions in the car manufacturing Industry.
Start off with a single range in the car manufacturing industry
Surely being able to provide your customers with a variety of products in the car manufacturing industry would be a great advantage over your rivals, but lest we forget what happens if you direct your focus on a wide range of products in the car manufacturing industry.
The famous competition between Ford and Ferrari is of legendary importance. A generally family-friendly car manufacturer goes head to head against a world-renowned supercar manufacturer. It’s true. Ford won after three years of trying hard and spending millions at the time. Yet ultimately it was Ferrari that managed to maintain its exclusivity and racing pedigree. Ford however returned to producing family cars in order to maintain sales. The message is clear. Do what you do best and be the best in what you do; especially in the car manufacturing industry.
Choose a rival and gain advantage
Once you enter the competition in the car manufacturing industry, you will have to compete at different levels with an equal company or particularly one of their productions. Many of the now successful car manufacturers have always compared themselves with more successful rivals and by redesigning their product intelligently, have offered their alternative with better quality, cheaper prices, more safety, and more extra features. Some companies go even farther and focus on smarter payment policy in comparison to their rivals despite not having offered an advantage over their rivals in terms of production but rather, look to the financial incentive.
Below you will find some of the simplest ways you can gain advantage over your rivals in the car manufacturing industry:
|They provide a simple yet powerful engine.||Use an engine with less fuel consumption but roughly the same power.|
|Provides a number of standard features for the car.||Add as many more features to your car as possible.|
|Offers a minimalistic design.||Design a more aggressive looking car.|
|Offers a car at 10 thousand dollars.||Offer your car at 12 thousand but in installments.|
|Offers the car with 5 colors.||Offer your car with more appealing color diversity.|
Maadhttps://maadico.com/ico provides companies and entrepreneurial Individuals with counsel and assistance, especially those in the car manufacturing industry in the fields of Marketing, Strategy, Agility, and Sustainability, etc. we offer our services in a client-friendly fashion and will offer our companionship in long-term collaborations. For more details, click here.